All Forum Posts by: Mike Thoeresz

@Peter Doan I’m in California with the same dilemma. I’m looking at different sub meter options but I don’t love anything this far. Please post if you find an excellent solution. Thanks 🙏

A friend just did a portfolio loan with them and had a great experience. I just put in a hard money loan offer with them. Nothing on yelp (they are based in Springfield, MO). Three reviews on google (two positive and one very negative). They are not accredied with BBB and no reviews with them either. It would be great to get feedback from anyone on Bigger Pockets! Please let us know ASAP--or direct message me if you're worried about saying something bad in public! Much thanks!

Justin! I got no where with Roofstock. The second I went with a local agent I sold immediately. 

@John Kutrzeba

I’ve got a similar situation in Muncie, IN. 4/2 in a half decent area. $105k purchase in 2017; and $1100/month in rent. This house always has problems. I have a slab leak now that will cost me a fortune.

I’m looking into roofstock or homeunion to sell it. 2.5% in fee’s.

I just moved to a low cost of living location and bought a 4-plex. I want to buy more. I’m going to try and sell my out of state property while the economy is still crushing. Good luck on your decision!

I purchased a turnkey 4 bed 2 bath property in Muncie, IN in 2017. It has been preforming nicely but I moved to a lower cost of living city and purchased a 4-plex. I'd like to purchase more property locally but I have money tied up in my Muncie property and I'd like to sell it. The property has a tenant in place. I purchased it for $105k and the current rent is $1100/month. The tenant signed a two year lease two months ago. 

Has anyone used HomeUnion or Roofstock to sell an investment property? How easy was the process? Was it really only 2.5% in fee's? My property is pretty close to turnkey--will they request a lot of changes or upgrades? 

Any info is greatly appreciated! You can PM if you're uncomfortable posting about these large companies publically. Much thanks! 

Any update on invest-friendly lenders in Fresno? I've tried a few credit union's and a couple hard money lenders. The credit union's are a no-go and the hard money lenders are 3+ points--for a $80-$100k purchase price it's pretty brutal! Thanks!

@Maria Dantas I’ve purchased two properties from RWA in the last two years. I got independent inspection reports on both properties and RWA  fixed any issues. Both properties were rented immediately. The house I purchased in July of 2016 in Lebanon has had a total of $143 of maintenance (winter storm) and the initial renters re-signed their lease. The house I purchased in Muncie in July 2017 has had zero issues. 

There was a very minor issue on the property management side last year but it was resolved promptly and without further issues. They do a good job of communicating. 

I would buy more from them but they focus on Anderson and Muncie which are not great towns. At least Muncie is a regional medical hub and has ball State university... but I’m still not expecting appreciation. If they had more properties in Indianapolis and/or North West Indiana (suburb of Chicago) I would be buying more from them. 

I actually reached out to pinnacle investments on Friday. I know their owner is very active on BP. If anyone has any experience using them—especially their property management; please DM me! It would be greatly appreciated! 

Good luck with RWA! 

@Jie Li I'm in the process of purchasing a duplex from GC right now. Projected close date is 6/15. So far it has been a smooth process. I'll let you know how it goes!

@Ryan Fox Did you by chance hire a roofing contractor to inspect either of your SFH's? Do you have a recommendation? Any reason you purchased two SFH's instead of a duplex? Transaction costs in chicago are high! Thanks!

Any updates in the last year? Anyone else use Lima one? Any additional info is greatly appreciated! Thanks!

I have purchased two out of state tournkey houses in IN. Both appraised for $5k over selling price and both are cash flowing close to $300/month. I looked for houses in neighborhoods that had good school districts and I got my own home inspections. I've had one for a little over a year and one for two months. I will not get rich from these properties but so far everything is good. One house was $120k and the other $100k. Granted it's still early on for these houses but so far all is good. That being said, my next property will be a local (Orange County) multifamily that I house hack.